IVD in Cardiology and Neurology Market Size

IVD in Cardiology and Neurology Market size was valued at around USD 15.6 billion in 2023 and is estimated to reach over USD 24 billion by 2032. IVD in cardiology and neurology refers to diagnostic tests that are performed on samples of blood, tissue, or other bodily fluids outside of the body (in vitro) to detect diseases, conditions, or abnormalities related to the cardiovascular system or the nervous system.

The increasing incidence and prevalence of cardiovascular diseases (CVDs) and neurological disorders such as Alzheimer's disease, Parkinson's disease, and stroke are driving the demand for diagnostic tests in these areas. According to the World Health Organization (WHO), cardiovascular diseases (CVDs) claim approximately 17.9 million lives annually, making them the primary cause of death worldwide. Additionally, neurological disorders rank as the second most common cause of death and the leading cause of disability globally.

A pioneering study on the Global Burden of Disease (GBD) forecasts a significant increase in the number of individuals affected by brain diseases, with projections indicating a doubling by 2050. Thus, as the global population ages and lifestyles change, the burden of these diseases is expected to rise, necessitating more accurate and timely diagnostic solutions.

The increasing adoption of point-of-care testing (POCT) in clinical settings contributes to the growth of markets. POCT devices offer rapid and decentralized diagnostic solutions, allowing for timely diagnosis and immediate treatment decisions at the patient's bedside or in remote settings. The convenience, speed, and accuracy of POCT devices enhance patient care and outcomes, particularly in emergency situations or resource-limited settings.